Reverse Mortgage FAQ

While nothing replaces the customized advice of an experienced reverse mortgage specialist, these reverse mortgage FAQs can get you started.

What is…

Q: What is a reverse mortgage?
Q: What is a reverse non-recourse loan?
Q: Are there different types of reverse mortgages?

Eligibility

Q: What are the reverse mortgage rules or requirements?
Q: Who is eligible for a reverse mortgage?
Q: What types of homes are eligible?
Q: If I still owe money on a first or second mortgage, can I qualify for a reverse mortgage?
Q: What are HUD reverse mortgage requirements?

Interest Rates / Costs / Payout

Q: How much can I borrow?
Q: How do reverse mortgage interest rates work?
Q: Should I get a Fixed Rate or an Adjustable Rate Reverse Mortgage?
Q: Is the interest accrued on the reverse mortgage tax-deductible?
Q: What kind of reverse mortgage rates and fees can I expect?
Q: How can I get the cash from a reverse mortgage?
Q: What are reverse mortgage costs?
Q: Are there any restrictions on what I can do with the money?
Q: Am I able to use a reverse mortgage to purchase a home?
Q: When do I have to pay back the loan?

Reverse Mortgage Lending

Q: Will the bank own my home?
Q: How will this affect the estate I leave to my heirs?
Q: What is the most I can owe?
Q: Will this affect any of my other benefits?
Q: How do I choose the best reverse mortgage lender?
Q: How can I compare products and features?
Q: What are the reverse mortgage disadvantages?
Q: What are reverse mortgage pros and cons?

Have you read through the FAQs on reverse mortgages and want to get started? Request a free quote or call David Chee today at (800)967-3575.

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